Sonoran Bank, N.A. Cuts Reward Checking and Savings Account Rates

I'm afraid we lost another 5% reward checking account. Sonoran Bank, N.A. which is based in Arizona had the following rate cuts:

• High Yield Checking: 5.03% APY to 4.26% APY for up to $30K
• High Yield Savings: 3.01% APY to 2.51% APY for all balances

At least the rates fell less than a percentage point. Please refer to my account review for more details.

Hat tip to the reader 51hh for mentioning this rate cut in the Open Discussion Thread.